Bioceramics
are an inorganic, non-metallic materials used in medical applications derived from
ceramic raw materials but with incorporations of specific properties required
for biomedical applications. They are used to replace hard tissues such as bone
and teeth. Compared to other biomaterials like polymers and metals, bioceramics
offer superior properties like bioactivity, high mechanical strength and can
promote protein adsorption as well as cell attachment and growth. Due to their
excellent biocompatibility, bioceramics have wide application in joint
replacements, dental implants, surgical instruments and medical devices.
The
global Bioceramics Market is estimated to be valued at US$ 4369.34 Mn in 2023 and is expected to exhibit a CAGR of 4.3% over the forecast period 2023 to 2030, as highlighted in a new
report published by Coherent Market Insights.
Market key trends:
One of the key trends in the bioceramics market is the increasing demand for
bioactive ceramics. Bioactive ceramics include materials like hydroxyapatite
and bioactive glass ceramics that can directly bond to living bone tissues
without intervening soft fibrous tissue layers. They provide reliable fixation
of implants to host bone and offer excellent osteoconductivity and
osteoinductivity. Rising geriatric population and increase in orthopedic
surgeries have augmented the demand for bioactive ceramics in the market.
Another trend is the growing use of bioceramics in 3D printing for fabrication
of customized implants. 3D printing facilitates design of complex scaffold
structures and patient-specific implants with precise control over composition
and microstructure. This technology helps address limitation of "one size
fits all" approach and further drive the bioceramics market growth.
Porter’s Analysis
Threat of new entrants: Low capital requirement and availability of raw materials
and labor creates a threat of new entrants in the bioceramics market.
Bargaining power of buyers: Large bioceramics manufacturers along with
availability of substitutes provide buyers with greater bargaining power.
Bargaining power of suppliers: Raw material suppliers face less bargaining
power due to availability of alternative sources of raw materials.
Threat of new substitutes: Advances in medical technology can offer new
substitutes for bioceramics like biopolymers and composites.
Competitive rivalry: Large players focus on capacity expansion through mergers
and acquisitions to gain economies of scale and competitive advantage.
Key Takeaways
The
Global
Bioceramics Market Demand is expected to witness high growth,
exhibiting CAGR of 4.3% over the forecast period, due to increasing demand for
bioceramic bone grafts and implants. The market size for 2023 is US$ 4369.34
Mn.
Regional analysis: North America dominates the bioceramics market owing to
increasing demand for dental bioceramics and growing cosmetic procedures. Asia
Pacific exhibits fastest growth in the bioceramics market due to rising
healthcare infrastructure and medical tourism.
Key players: Key players operating in the bioceramics market are CoorsTek,
Inc., Kyocera Corporation, Morgan Advanced Materials, CeramTec, BONESUPPORT,
COLLAGEN MATRIX, BERKELEY ADVANCED BIOMATERIALS INC., and CERAMTEC. Major
players focus on new product launches and mergers to strengthen their market
position.
Get
more insights on this topic:
https://www.marketwebjournal.com/bioceramics-market-market-size-share-analysis-growth/
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